Hedge fund billionaire Ray Dalio reveals he now holds ether, slams cash

2 years ago 397

Ray Dalio told Yahoo Finance that cryptocurrencies person go an awesome plus class, but helium thinks currency could go a “problematic asset”

Bridgewater Associates laminitis and co-chief concern serviceman Ray Dalio has revealed that different than Bitcoin, helium besides present holds a tiny magnitude of Ether (ETH), the autochthonal cryptocurrency connected the world’s largest astute declaration level Ethereum.

The billionaire investor, who’s been astatine the planetary hedge money elephantine for implicit 3 decades, besides expressed his admiration of the crypto abstraction terming its maturation arsenic “impressive.” But the hedge money manager did not spare cash, slamming it arsenic perchance the “worst investment.”

Dalio expressed these sentiments during an interview with Yahoo Finance, published Thursday.

First Bitcoin, and present Ethereum

As with galore different big-money individuals, hedge money billionaires, and household offices, Ray Dalio took a antagonistic presumption of cryptocurrency adjacent arsenic the emerging exertion saw monolithic maturation successful the past decade.

But successful May his stance flipped arsenic helium bought Bitcoin (BTC) amid a broader organization adoption of the flagship cryptocurrency and different integer assets. An detonation of involvement successful decentralised concern (DeFi), non-fungible tokens (NFTs), and astir precocious the metaverse lone served to summation inflows successful this caller plus class. 

So, a fewer months down the line, the American capitalist has revealed helium precocious added Ethereum (ETH) to his crypto portfolio.

"I don't ain a batch of it,” helium told Yahoo Finance, referring to his ETH holdings. He besides pointed retired that helium could not uncover conscionable however overmuch BTC helium holds astatine the moment.

Talking astir Bitcoin, the capitalist said helium thought of it arsenic a precise awesome exertion that has managed to stay harmless for truthful agelong and continues to get adopted crossed the world.

"I deliberation it's precise awesome that for the past 10, 11 years, its programming has inactive held up,” helium noted.

Investors mightiness request to diversify retired of cash

Dalio besides expressed his views connected cryptocurrencies arsenic an concern vehicle, noting that helium views these arsenic alternate wealth and bully investments.

But helium slammed currency saying that though astir investors spot it arsenic a harmless investment, his sentiment is that it’s “the worst investment." 

According to him, the dollar’s debasement, for instance, means inflation-adjustment puts losses connected dollar-based investments astatine 4% to 5%. He urges diversification, noting that its apt currency volition go “a problematic asset.”

Read Entire Article